Overview: In January 2021 Newfoundland Labrador exported C$1.05B and imported C$83.2M, resulting in a positive trade balance of C$971M. Between January 2020 and January 2021 the exports of Newfoundland Labrador have decreased by $-152M (-12.6%) from C$1.21B to C$1.05B, while imports decreased by C$-459M (-84.7%) from C$542M to C$83.2M.
Trade: In January 2021, the top exports of Newfoundland Labrador were Crude Petroleum (C$559M), Iron Ore (C$344M), Raw Nickel (C$87.4M), Crustaceans (C$11.6M), and Newsprint (C$10.3M). In January 2021 the top imports of Newfoundland Labrador were Refined Petroleum (C$67.7M), Non-fillet Frozen Fish (C$2.27M), Planes, Helicopters, and/or Spacecraft (C$1.91M), Plastic Pipes (C$1.35M), and Quicklime (C$912k).
Destinations: In January 2021, Newfoundland Labrador exported mostly to United States (C$467M), Netherlands (C$184M), China (C$51.9M), Taiwan (C$50.6M), and Ireland (C$49.6M), and imported mostly from Belgium (C$26.8M), Netherlands (C$25.3M), United States (C$18.5M), Sweden (C$2.02M), and Turkey (C$1.54M).
Growth: In January 2021, the decrease in Newfoundland Labrador's year-by-year exports was explained primarily by an decrease in exports to United States (C$-340M or -42.1%), Italy (C$-38.1M or -77%), and United Kingdom (C$-25M or -84%), and product exports decrease in Refined Petroleum (C$-273M or -99.2%), Crude Petroleum (C$-96.5M or -14.7%), and Crustaceans (C$-2.35M or -16.8%). In January 2021, the decrease in Newfoundland Labrador's year-by-year imports was explained primarily by an decrease in imports from United States (C$-481M or -96.3%), Norway (C$-19M or -94%), and Mexico (C$-6.66M or -99.9%), and product imports decrease in Excavation Machinery (C$-14.8M or -99.9%), Iron Pipes (C$-6.62M or -99.8%), and Machinery Having Individual Functions (C$-3.37M or -99.3%).